Real Estate Blogs | Properties for Sale | Preferred Properties of Texas

You Received an Offer, Now What?

April 21, 2023 by chorton Leave a Comment

Congratulations! Congratulations! Review the terms before you agree. While price is important, a good offer is much more than a simple number. When working with your realtor, consider these factors to help you decide what to do.

Do you have the right timing?

Your next address is required. It’s possible that you are buying a new home. A flexible offer will appeal to you more than one that has a short turnaround time or is inconvenient. You may find that buyers are willing to rent back your home to you temporarily after the sale.

Has a buyer offered to cover some of your costs?

The buyer can sweeten the deal if they offer to pay some of the closing costs. Although this amount is not included in the purchase offer, you will still benefit from it.

What is the amount of earnest money and termination option fee?

Some buyers show their interest by paying a large earnest payment. You may receive a large option payment, which is yours if you choose to cancel the contract.

What other factors are at play?

Many aspects of an offer can make it more or less attractive to you. These include factors such as appraisals, surveys and financing options.

Are you thinking of selling? Our agents at Preferred Properties of Texas are here to help!

Original Blog: https://www.texasrealestate.com/members/posts/you-received-an-offer-now-what/?utm_medium=email&_hsmi=254852030&_hsenc=p2ANqtz-_lo3yvB9BotDw1RY876Q2nDXT-y9lnGGuedPfmvobYvmZLt1yAYXa0uSw-14grwaw7pP1oiqFPmjY8Ntw20z-XJfELbw&utm_content=254852030&utm_source=hs_email

The Pros and Cons to Buying a Fixer-Upper

April 18, 2023 by chorton Leave a Comment

The purchase of a fixer upper is becoming a more common choice, as sales of this type of home have risen 13,4% from 2020 to 2021. Despite what you may see on HGTV or social media, buying a fixer upper and bringing it to a livable condition is not an easy task.

The risk involved in buying real estate is something that all buyers must consider. How much risk you are willing to take depends on your personal preferences, lifestyle and short- and longer-term financial goals. There’s more to consider than the price of a fixer upper when you decide to invest in it.

This article will give you a quick overview of the pros and cons to choosing a fixer upper. Keep these in mind as you decide whether or not to make an investment.

The Pros of Fixer-Uppers

With enough money, imagination and work, you can make any property your dream home. Fixer-uppers offer a lot of potential to those looking for long-term gain.

The following are some of the most important pros to buying a fixer upper property:

Lower prices– If you search in the right places, the price of a fixer upper could be much lower than a home that is ready to move into. This could result in you getting more space for your money, and a lower deposit.

Less Competition – Fixer-uppers aren’t for everyone so there won’t be as much competition in your search. As an added bonus, the seller may be more willing to negotiate on price because their pool of buyers is smaller.

More possibilities– A fixer-upper offers an incredible amount of customization. When you are down to the studs you have a lot of options.

The Cons of Fixer-Uppers

It’s important to weigh the above advantages against some harsh realities of investing in a fixer upper. There’s a good reason why so many buyers are willing to pay more for a turnkey house.

Cons to be aware of include:

Renovation costs are higher up front– You may pay more in renovation costs for the money you saved on purchase price or down payment. A mid-level kitchen renovation alone cost between $15,000 AND $29,000, and that’s only one room out of many.
Unanticipated Issues– A home purchase can be a surprise. This is particularly true for fixer-uppers. Costly problems could be lurking behind each wall and floorboard.
Expect a longer timeline– Your fixer-upper may take months or years to become a suitable and safe place to live. Be realistic with your timeline and, if you are in a rush to move, get a thorough inspection as soon as you can to find any problems that may hinder you. It takes a lot to buy a fixer upper, whether it’s with or without land. Working with an experienced agent and financial advisor to decide if this is a good investment, and consider the pros and the cons before you sign on the dotted lines. Are you thinking of Buying? Our agents at Preferred Properties of Texas are here to help!

Original Blog: https://www.landhub.com/land-news/pros-and-cons-of-buying-a-fixer-upper/?inf_contact_key=9c3f17f8ec456476d7ca9cad4e58e1ac680f8914173f9191b1c0223e68310bb1

Selling your home in the spring is easy with these 15 tips

April 15, 2023 by chorton Leave a Comment

The spring is the best time to sell your home. In the spring, regardless of whether the market is hot or cold, the inventory will almost always increase because most buyers are actively looking for a home in April, May and June. Take your house off the market if it has been on the market for a long time. Allow it to cool for a couple of weeks before you put it back on sale.

No one will look at your house in the spring months after it has been listed. The days on market is important to home buyers, because they gravitate towards new listings. There are a few other ways to make your home stand out from the new listings that flood the spring real estate market. 1

Sell Your Home This Spring with These 15 Tips

Try these tips to sell your house during the springtime.

Cleaning Windows and Mirrors

It is important to wash your windows thoroughly and polish all of the mirrors. Sparkle sells houses and is free. Your home may seem inviting to a potential buyer, but they will be drawn in if your windows are clean and your mirrors reflect the sunlight. The first step to selling your home is cleaning.

Yard Cleanup

Trim the bushes, rake your yard and remove dead leaves from the lawn. Overgrown vegetation should not block windows or the path to the front door. By cutting back bushes and trees, you can let more light into your home and show off the outside.

Lawn Mowing

A lawn that is well-maintained will give you an advantage and show buyers that you are attentive to the smallest details. Cut your lawn in a diagonal pattern to make it appear bigger. Use a weed-eater to get around the driveway and sidewalk edges.

Buy Flowers

Yellow flowers are known to stimulate the buying impulse. Everyone is eager to see signs of spring after a long, cold winter. Yellow tulips, daffodils and other flowers can bring happiness and satisfaction. Arrange the containers in groups of 3 or 5 near the entrance.

Clean Drapery

You can either dry clean your window coverings or you can wash, dry and press them. Blinds can be washed in a bathtub with soap to remove dust and spiderwebs. The crisp linens and the spring breeze that blows through the windows will bring the season indoors.

Set Out Flowers

Natural scents, such as those of freshly-cut peonies or lilac branches, are more attractive than synthetic ones. Also, they trigger fewer allergic reactions in those who are susceptible. The peony vase is designed to hold the peonies upright, but you should wash them first to prevent ants from entering. Clever home staging brings color, fragrance and beauty indoors.

Polished Floors

If necessary, your hardwood floors need to be refinished. Clean all area rugs and make your ceramic or linoleum floor sparkle. Bleach dull grout and give it a new shine.

Use towels, throws and pillows

You can purchase inexpensive accents like throws, sofa pillows, towels and linens even if you have to replace items. Soft spring colors will brighten up any room. Place rolled washcloths in a pyramid on the counter and layer towels on towel racks.

Place outdoor mat and umbrella stand

Spring weather can be unpredictable no matter where you are. It can snow in some states and be 72 degrees the next day. Give buyers a place where they can store their umbrellas, and let them wipe their shoes before entering. For protection, some sellers place plastic runners on the floor. However, this can ruin a sparkling polish job.

Buy Balloons

Helium balloons are available at very low prices in party and stationery supply shops. Buy a dozen balloons and attach them to your open-house signs. They will create excitement and make your home more visible to home buyers.

Print flyers and financing material

Do not skimp on the marketing materials for your home. Color is more noticeable than black-and-white when you want to get homebuyers to choose your flyer from the many they may pick up. Give homebuyers 2-3 options for financing to show them how easy it is to afford your home. When buyers are considering buying a house, the first thing they think about is their monthly mortgage payment. Make sure they know what you’re doing.

Use color photos for advertising

Include a color photo in your advertisement to spend a bit more money on advertising online and in newspapers. A picture is worth 1,000 words. Search through your photo albums for a photograph that shows off your home in the best light.

Mail Postcards with a UV Coating

You can get a list of nearby neighbors for free by contacting a local title firm. Print large-sized postcards with color and a UV coating for a marketing boost. Use first-class stamps to finish it off.

Offer Chilled Bottled water

Place a dozen bottles of water or more in an ice sink for the buyers. You can tape your own labels, which you printed on your computer and include your name, phone number, address, and a photo.

Set out Treats

Consider giving buyers a snack when they tour your home. This will allow buyers to spend more time in your kitchen admiring the elegant details that they might have otherwise overlooked. Wrap the treats individually in cellophane, and then tie a ribbon around it.

Original Blog: https://www.thebalancemoney.com/top-ways-to-sell-your-home-in-the-spring-1799025

What is the average time it takes to close on land?

April 13, 2023 by chorton Leave a Comment

Before you can take possession of the property, there are many things that go into buying land. While accepting your offer is a major hurdle, closing the deal is the real step.

Like closing on other types real estate, closing on land is a process that requires clear steps and requirements. How long does it take from accepting an offer to closing? This article will tell you everything you need to know about closing land deals. It also includes how long it takes to get your keys.

Average length of land closing

If everything goes according to plan, your land purchase will close within 30 to 90 days after you accept an offer .

Pre-negotiated negotiations with the seller (such a for a shorter or longer closing period) and any snags along the way with financing or inspections are all variables that can affect the length of your closing time. The closing period can also be affected if you are paying cash or taking out a loan.

Steps to Closing Land Purchases

Traditional land sales go through several steps, starting with the offer to purchase and ending with your formal ownership.

These include:

Examination and title search
Surveys and property inspections
Bank financing
Final walk-throughs

This should be familiar to anyone who has ever bought land or brick-and-mortar properties. It’s quite common for land closings to be complicated. These are not issues you will encounter with commercial or residential properties. These issues can be handled by a good attorney and real estate agent. This will allow you to decide when it is worth continuing with the sale and when it’s better to back out.

How to Close Faster

Are you in a rush to close the deal? To move things along, there are some things you can do prior to and during closing.

Pre-approve for financing. Before you submit an offer for a piece or start your land search, make sure all your financial ducks are in order. This will eliminate some of the time-consuming steps in the closing process, and it will also guarantee that you can get the money that you need.
Cash is preferred. Pay cash for your land purchase if possible. This will allow you to avoid the financing part of closing and it may make the seller more open to negotiating on your closing time.
Request a shorter closing period. If you are looking to close quickly, it is worth asking for a shorter closing period. The seller may be just as eager for closing as you are, and will likely sell the property sooner than you suggest.

Remember that even if you have a faster closing, it is still important to allow enough time for title and land inspections. Do your research before closing to ensure you get a great deal.

Original Blog: https://www.landhub.com/land-news/how-long-does-it-take-to-close-on-land/?inf_contact_key=ca9d0afb2e6e1c9811a452c267d8e258680f8914173f9191b1c0223e68310bb1

How to Make the Most of Your Natural Land Resources

April 11, 2023 by chorton Leave a Comment

Landowners are more aware of the many income streams that can be generated from their land, in addition to making it financially viable. One such source is solar energy, which uses the sun’s rays in order to produce electricity. Wind energy harnesses the power of wind to generate electricity. You can also harvest water, gravel, and sand.

Carbon tax credits may not be as well-known to many. A carbon tax credit is basically a credit that is given to individuals who contribute to reducing carbon dioxide and other greenhouse gas emissions by funding or implementing emission reduction activities. This can be achieved using energy-efficient appliances and renewable energy sources like solar and wind power. Property owners could be able to get reliable land income through carbon tax credits in the future. This will provide a financial incentive for more sustainable land management.

Landowners must be creative about the potential income sources from their land, with a particular focus on climate change. Landowners can create long-term sustainable income from their land by investing in renewable energy sources or implementing carbon tax credits. This will help to preserve the environment.

The auto industry has also been transformed by electric car batteries in ways that many people thought impossible. As demand for green transportation solutions grows, these companies are increasing their mining operations.

Companies that make electric vehicles are looking for the right balance of lithium and minerals to help them run, have been searching the globe. Mining teams around the globe are searching for these precious minerals in order to find them. These companies are determined to ensure that green energy continues to grow, from searching for lithium to finding other valuable minerals.

To capitalize on the growing demand for electric cars batteries, lithium and mineral mining companies are working harder to meet this demand. These companies are searching for minerals like lithium, nickel, or cobalt, which are key ingredients in the manufacture of electric car batteries. Miners are eager to reach remote areas in order to obtain these minerals, as the prices of these materials are rapidly rising.

Safety of workers is a top priority. Miners must adhere to strict safety protocols and environmental guidelines while accessing these minerals. It is expensive to extract lithium, so electric car battery manufacturers have been looking for cost-effective ways to get the material they need.

There are also new ways to access minerals and improve the mining process. Mining companies can now access the minerals they require with the aid of robotics and technology. This minimizes risk for workers and the environment.

Reliable access to lithium and other minerals is crucial for the future of electric car battery technology. Deep underground mining is the only way to find the lithium necessary for these companies’ success. This is not an easy task. This requires technical prowess and skill.

Exploration, drilling and extraction can be a lengthy and costly process that can take several months. More than 1,500 pounds must be moved for every ton lithium produced. The miners must also be aware of the other minerals found in the earth’s crust such as iron, copper, zinc and boron. These minerals must also be obtained. They play a crucial role in creating a brighter future by ensuring the ethical and sustainable production of these raw materials.

Mining companies can use innovative technologies like thermal and chemical leaching to extract minerals in a more sustainable way. They can reduce their environmental impact by using such technologies and ensure that electric cars have reliable access to the lithium they need.

Mining companies and landowners can become partners in providing lithium and other minerals access as electric cars and batteries become more common. They can ensure a steady supply of raw materials for the future auto industry. Electric car batteries can be made more efficient and environmentally friendly with the support of mining companies.

Original Blog: https://www.landhub.com/land-news/how-to-capitalize-off-your-natural-land-resources/?inf_contact_key=2fa1cc790a4bccd58e00b4cb0875b808680f8914173f9191b1c0223e68310bb1

Questions Answered About The Home Selling Process

April 6, 2023 by chorton Leave a Comment

You’re likely excited to start the process if you have a property to sell. It’s difficult to not feel overwhelmed when you sell your home. There are so many factors to consider. We’ve done extensive research on everything you need to sell your home, and we have the answers you’re looking for:

What is the best way to determine my home’s worth?

A Comparative Market Analysis will be done to determine the value of your home and establish a listing price. A Comparative Market Analysis (CMA) uses comparable sales to yours that are similar in age, geography, size, and other features. A CMA is not an appraisal. Only a licensed appraiser can do this.

Is it a good idea for a company to start high?

Although sellers love the idea of starting high to see if they receive higher offers, this strategy is not always practical. If buyers use a price filter that is set to the expected area prices, they may not be able to see your listing. You also run the risk that the appraisal comes in lower than the contract price. This will force you to renegotiate or cancel your contract. If your listing price is higher than the neighborhood value of your home, it will be more likely that your home stays on the market longer while buyers wait for your offer to lower your price. You should set a realistic price for your home that will attract buyers quickly. My goal is to get you the best price possible in the shortest time.

What percentage of the listing price should I expect to receive?

The selling price divided by the listing price is what determines the list-to-sell ratio. This ratio is heavily influenced by the market. Sellers may receive close to 100% in a sellers market (low inventory), or even more if the home sells for more than list price. A buyers’ market has a greater inventory, which means that buyers have greater negotiating power. The list-to-sell ratio might be closer to 90%. My goal is to get as close as possible to a 100% market-to-sale ratio.

What is the quickest time I can get my house on the MLS?

I will start entering your information into the MLS system once we have agreed to work together. I will schedule a professional photographer to take photos. Once all information and photos have been uploaded, your listing will be live on MLS.

What should I do in order to be ready to list?

It’s a smart idea for you to start organizing your storage space, closets, drawers, and decor, as well as putting away any of your belongings. It may be a good idea to have your exterior pressure washed and your landscaping cleaned up. We are happy to discuss specific items that can help improve the appearance of your home.

What will it take to show the results?

We will reach an agreement with you regarding the terms of showings. We want the home to be accessible to all buyers with minimal disruption to your life. If we do not agree to a showing schedule, I will inform you before any showings. Most often, we use electronic lockboxes that are only accessible to active members of the local Realtors association. If necessary, we can schedule the lockbox. Each time the lockbox has been accessed, I get a notification.

How do you market my property

It is vital to market your listing. Most buyers search the internet for their property via MLS (via their agent), Realtor, Zillow or other search engines. Within a few days of being active, listings in our MLS system will appear on these websites. Additionally, I share listings with agents in my network, on this website and on social media. We can also discuss other opportunities, such as hosting open houses or marketing in your area.

What is the time it takes to find a buyer for your property?

There are many factors that influence how long it takes to find a buyer. The market conditions, price range (pricier homes are more difficult to sell), location (whether the property is in a desirable area or unique location) and condition of the house (is it ready for move-in or in dire need of renovations). Most houses go under contract in 30 days if they are priced correctly and there is no significant damage or other extenuating circumstances. In a seller’s marketplace, homes sell quicker while buyers take longer to search for houses if there is more inventory.

Are you able to qualify the buyer?

Once an offer has been received, I will work closely with the buyer’s agent in order to vet the buyer. All offers must be accompanied either by a pre-approval letter from a mortgage lender, or if you are paying cash, proof of the funds necessary to pay for the purchase price. After accepting an offer, the buyer should pay the agreed-upon escrow deposit and schedule inspections according to the contract. If financing is required, their lender will begin the loan approval process. To ensure that the process is completed correctly, I will keep in touch with the buyer’s agent.

What are the associated costs?

The seller typically pays the fees for the agent. These are split between the buyer’s and seller’s agents. The seller pays their portion of HOA dues and property taxes. The buyer will pay their share to the seller if the entire annual amount has been paid. To make the transaction smoother, the seller may pay a portion to the buyer’s closing expenses.

Is your commission negotiable?

The commission cannot be negotiable. Remember that the commission will be split equally between both sides. Both agents must adhere to the brokerage structure. Buyer agents may be less inclined to advocate for your property if we reduce the commission upfront. To earn the commission, I will do everything possible to represent you truthfully and with integrity. This is my job, and I will do whatever it takes to earn my salary and close transactions for clients.

Do you want to represent the buyer as well?

If I do find the buyer for your house, you can be sure that I have the necessary training and experience to handle both sides of the transaction fair. As a professional, you can trust me to keep the confidential information and be loyal when dealing with each party. Communication is easier when I represent both sides. Although it is difficult to work on both sides of a transaction, it wouldn’t be a problem.

Can I cancel my order if I find my buyer?

Listing agreement is a contract between me and you, and/or my brokerage. You are encouraged to read it. It also contains the cancellation terms. After we have signed the listing agreement should any potential buyer who approaches me directly be directed to me.

How often will we communicate with each other?

A successful sale is made easier by communication. You will be kept informed of all developments at every stage. If you have any questions or concerns, please don’t hesitate to contact me. We will go over the listing information and discuss our preferred communication methods and schedules so that we are aware of each other’s availability.

Are you thinking of selling? Our agents at Preferred Properties of Texas are here to help!